BBVA to chair new Spain-Peru Council Foundation

José Manuel González-Páramo, BBVA’s Executive Director Responsible for Global Economics, Regulation & Public Affairs, will chair the recently created Spain-Peru Council Foundation, a non-profit body set up with the aim of fostering relations between the two countries.

“Spain and Peru are natural partners with strong historic, cultural and economic ties. It’s an honor for me to chair this foundation, which presents an excellent opportunity to continue strengthening ties between the two countries,” says José Manuel González-Páramo. The BBVA board member noted that in the past few years “Peru has gone a long way in opening up to global and regional trade; fostering its relations with Spain is another step in this direction”.

Spain and Peru are natural partners with strong historic, cultural and economic ties. It’s an honor for me to chair this foundation, which presents an excellent opportunity to continue strengthening ties between the two countries

The foundation comes within the framework of the Council Foundations Network, created and supported by the Spanish Foreign Affairs and Cooperation Ministry. It was set up to advance and strengthen cultural, economic, trade and business relations between Spain and Peru, as well as in the area of scientific and academic cooperation and the defense of the environment.

Apart from BBVA, the other founding members of the Foundation include Repsol, Telefónica and Mapfre. Over the next few members other Spanish and Peruvian companies are expected to come on board.

The Foundation aims not only to improve mutual understanding between the two countries but also to bolster trade ties. BBVA Research notes a significant increase in commercial ties between Spain and Peru in the past few years with trade volumes increasing from €700 million in 2009 to €2 billion in 2016.

In addition, the Foundation plans to launch a series of bilateral initiatives and to take part in public and private events, meetings and multi-discipline exchanges, both in Spain and Peru. It will also recognize the contribution of individuals and legal entities to the strength of relations between the two countries.

José Manuel González-Páramo has since 2013 been the BBVA Executive Director Responsible for Global Economics, Regulation and Public Affairs. Previously, between 2004 and 2012, he was a member of the Executive Board and Governing Council of the European Central Bank (ECB). In the 1985-1994 period, he was an economic advisor to different public and private entities, including the Bank of Spain, the European Commission, the International Monetary Fund and the World Bank. Since December 2016, he has been the Europe chair of the TransAtlantic Business Council (TABC), the official business advisory group to the U.S. government and the European Union on trade, investment and regulatory issues.

BBVA has been present in Peru since 1995 when it acquired its first bank in South America, Banco Continental. BBVA Continental is currently one of the leading financial institutions in the country, with more than 5 million customers. BBVA supports the development of investment in Peru through different initiatives, such as its collaboration with InPerú, a public-private body aimed at promoting the country as a destination for international investment.

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